CIE 3M7.1

Test: Markets

Tues., Apr. 7

Nature of Economics

Economics is a dynamic subject enabling you to learn about a variety of real world issues including why prices fluctuate more for one good, such as gasoline, and less for others, like milk. Why do some firms, such as insurance companies and oil conglomerates, have more control over their pricing and sales?  Does continued overuse of our natural resources threaten our  environment or can we promote sustainable development for our planet?  Does taxation of goods, such as gasoline and alcohol, promote greater public welfare or are these merely government initiatives to grow tax revenues?  Why do some countries, such as the United States, provide health care through the free market while nations such as Canada publicly fund this service?  Why is global income distributed so unevenly that 2/5 of the world's population cannot meet their basic needs to survive?  These questions, along with many other real world concerns, form the basis of understanding the importance of economics in our daily lives and how it shapes the future of humanity.

Why Study Economics?

Check out this TOP 10 LIST for some interesting, yet humorous, reasons to study economics and what you can do with a degree in economics.

Using this site to Maximize Student Success!

This site contains many valuable resources suited to students studying economics at the IB (International Baccalaureate) level (SL / HL) or the Ontario academic course (CIA 4U1).   It is suggested that students have the following software available on their home PCs to properly access or download resources at this site:

• MS Word & MS Power Point (click here for Power Point Viewer)
• Adobe Acrobat Reader (click here) or Foxit Reader

Nature of Economics

Economics is a dynamic subject enabling you to learn about a variety of real world issues including why prices fluctuate more for one good, such as gasoline, and less for others, like milk. Why do some firms, such as insurance companies and oil conglomerates, have more control over their pricing and sales?  Does continued overuse of our natural resources threaten our  environment or can we promote sustainable development for our planet?  Does taxation of goods, such as gasoline and alcohol, promote greater public welfare or are these merely government initiatives to grow tax revenues?  Why do some countries, such as the United States, provide health care through the free market while nations such as Canada publicly fund this service?  Why is global income distributed so unevenly that 2/5 of the world's population cannot meet their basic needs to survive?  These questions, along with many other real world concerns, form the basis of understanding the importance of economics in our daily lives and how it shapes the future of humanity.

Why Study Economics?

Check out this TOP 10 LIST for some interesting, yet humorous, reasons to study economics and what you can do with a degree in economics.

Using this site to Maximize Student Success!

This site contains many valuable resources suited to students studying economics at the IB (International Baccalaureate) level or the Ontario academic course (CIA 4U1).   It is recommended that students have the following software available on their home PCs to properly access or download resources at this site:

MS Word & MS Power Point (MS Downloads)   /  Adobe Acrobat Reader (click here)

---- Victoria Park C.I. 2025-2026  --- 

Notice: Assessment upcoming on markets .........